21.10.2011 - Gold prices to further correct in the near term: Geojit Comtrade

Gold has resumed its bear strength right now; and after testing the highs of about $1660-1670 today, we have seen a big dip in gold prices. The trend is still bearish and we expect the prices to further correct about $1600 in the near term.
For copper, we are seeing a big sharp correction of prices. On the back of the economic story which is developing in France and Germany and currently the prices are close to about 350 levels which can be a good opportunity again to go short in the market with a potential target of 340. Stop loss levels should be over 356 for copper..............................................Full Article: Source